Press release
Crowd Analytics Market Poised for 20% Growth, Set to Hit $9.92 Billion by 2029
Crowd Analytics Market Size
In recent years, the market size of crowd analytics has seen exponential growth. The development is expected to continue, with projections showing an increase from $1.57 billion in 2024 to $1.89 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 20.5%. This significant growth during the historic period is due to several factors: increased urbanization, development of smart cities, advancements in sensor technology, heightened security concerns, a demand for personalized experiences, and the proliferation of event management.
Anticipations state a surge in the crowd analytics market size in the forthcoming years. It's predicted to escalate to $3.94 billion by 2029 at a compound annual growth rate (CAGR) of 20.2%. The expansion in the projected period can be linked to the rising acceptance of AI and machine learning, an upsurge in the usage of IoT devices, stress on public safety and security measures, the necessity for data-guided decision making, burgeoning investments in intelligent infrastructure, and improved analytics abilities. Key trends that stand out during the forecast period involve the amalgamation of sophisticated analytics with AI, venturing into untapped sectors like retail and transportation, prioritizing real-time data handling, the growth of mobile and cloud-based solutions, a heightened focus on personal privacy and data security, and the emergence of multi-sensor data fusion.
What Are the Key Drivers Behind the Growth of the Crowd Analytics Market?
Optimistic growth within the crowd analytics market is being spurred on by an increase in the number of airline and train patrons. Air travellers, who are quantified when embarking or alighting from a plane at an airport, alongside train travellers, who are counted at the point of getting on or off a train at a station, are among the individuals responsible for this uptick. This swell of travellers can be traced back to the easing of travel restrictions related to the pandemic, causing a surge in travel requirements and improved service accessibility. Factors such as augmented transportation alternatives and reduced disruptions like strikes have also played a role in championing this surge. Certain sectors, such as airlines and railways, are leveraging crowd analytics to streamline passenger flow management and increase safety measures while enhancing operational efficiency via real-time crowd density and movement data analysis. For example, during April 2024, the Office of Road and Rail (ORR), a government division based in the UK, reported that rail passenger journeys within Great Britain escalated by 20%, soaring to 417 million between October and December 2023 compared to the 348 million during the equivalent quarter of 2022. In the full year duration between January 2022 and December 2023, the total journeys registered reached 1.57 billion. Hence, the escalating number of airline and train passengers is fuelling the growth of the crowd analytics market.
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Who Are the Major Industry Players Fueling Crowd Analytics Market Expansion?
Major companies operating in the crowd analytics market are Microsoft Corporation, Verizon Communications Inc., Amazon Web Services Inc. (AWS), International Business Machines Corporation (IBM), Nokia Corporation, NEC Corporation, Hikvision Digital Technology Co. Ltd., Axis Communications AB, INRIX Inc., CrowdFlower Inc., Crowd Dynamics International, Aeris Communications Inc., LÜLA Technologies Inc., Crowdanalytix Inc., Vivacity Labs, Cepton Technologies Inc., Securion Systems Inc., Wavestore Limited, NATIX Inc., Auquan, CircleUp Networks Inc., Sightcorp, Spigit Inc., Indoor Lab Inc.
What Are the Latest Innovations in the Crowd Analytics Market?
Companies that are dominant in the crowd analytics market are emphasizing the fusion of computer vision and machine learning technologies, including crowd-sensing collector sensors, to augment insights into real-time crowd behavior and elevate decision-making procedures. The crowd-sensing collector sensor is a high-tech device that employs mobile Wi-Fi signals to discover and enumerate individuals in real-time, scrutinizing patterns, densities, and movement within its proximity. For example, in June 2023, a technology enterprise based in the UK, Visual Solutions UK Limited, unveiled an advanced crowd-sensing collector sensor. This state-of-the-art tool is engineered for measuring and analyzing crowds in real-time. The inventive equipment flawlessly integrates into any setting, utilizing mobile Wi-Fi signals to perceive and count crowds, offering corporations insightful data regarding crowd patterns, densities, and movement. This technology heightens the capability to observe and control crowd dynamics effectively, providing actionable intelligence to refine safety and operational plans.
How Is the Segmentation of the Crowd Analytics Market Defined?
The crowd analytics market covered in this report is segmented -
1) By Component: Solution; Services
2) By Deployment Model: On-Premise; Cloud
3) By Application: Revenue Forecasting; Incident Analytics; Customer Management; Market Forecasting
4) By Vertical: Banking, Financial Services, And Insurance; Retail And Consumer Goods; Manufacturing; Information Technology (IT) And Telecommunications; Media And Entertainment; Other Verticals
Subsegments:
1) By Solution: Data Collection Tools; Data Analysis and Visualization Software; Real-Time Monitoring Solutions; Predictive Analytics Solutions; Reporting and Dashboard Tools
2) By Services: Consulting Services; Implementation Services; Training and Support Services; Maintenance and Upgrades; Managed Services
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What Is the Leading Region in the Crowd Analytics Market?
North America was the largest region in the crowd analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the crowd analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Crowd Analytics Global Market Report?
- Market Size Analysis: Analyze the crowd analytics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the crowd analytics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the market.
- Market Contribution: Evaluate contributions of different segments to the overall crowd analytics market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the crowd analytics market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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